Category:
Comfort Zone
April 30, 2012 (LBO) — Fitch Ratings Lanka on Monday affirmed HNB Assurance PLC’s national insurer financial strength rating and national long-term rating at ‘A(lka)’. The Outlook is Stable. A unit of the privately-held Hatton National Bank (HNB), HNB Assurance’s ratings reflects its capitalisation in terms of regulatory solvency and Fitch’s risk-based capital computations. The […]
Sri Lanka state land sale to ITC to be done May 10: Treasury secy
April 30, 2012 (LBO) – A 75 million US dollar transfer of state beachfront land to India’s ITC is to be wrapped up by May 10, setting the stage for a Sheraton branded hotel in Colombo, Treasury Secretary P B Jayasundera said. The land was earlier to be sold to China’s CATIC on a freehold […]
Sri Lanka environment seen paying price of rapid growth
Apr 30, 2012 (LBO) – Sri Lanka’s rapid economic growth in recent years has come at the cost of serious environmental degradation with outdated laws and existing rules not properly implemented, an expert said. Gunawansa noted how in Sri Lanka often environmental impact assessments, known as EIAs, are not done with projects passed either owing […]
‘s April inflation accelerates to 6.1 percent
Apr 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6. 1 percent from a year earlier, accelerating from 5.1 percent in March, the state statistics office said. The index rose 0.6 percent in the month to 159.8. The food and non-alcoholic beverages component rose 1. 0 percent and non-food items rose […]
Sri Lanka and India ratings could be hurt by oil subsidies: S&P
Apr 30, 2012 (LBO) – Sri Lanka and India could face credit downgrade if oil prices rise further and energy subsidies are not reduced, Standard and Poor’s said in an Asia-Pacific report. “In India and Sri Lanka, we expect fuel and related subsidies to markedly worsen fiscal and external deficits unless subsidy levels fall,” Standard […]
Sri Lanka, emerging countries should be watchful about Europe: IMF official
Apr 30, 2012 – (LBO) – Though the global economy is showing signs of improving, a slowing Europe and debt troubles which Sri Lanka and emerging Asia should watch, an International Monetary Fund official said. European fallouts could hurt emerging Asia through trade and financial channels, IMF’s resident representative Koshy Mathai said, at an economic […]
Sri Lanka LOLC says placed Rs3bn in debt
Apr 29, 2012 (LBO) – Sri Lanka’s Lanka Orix Finance Company Ltd Plc, said it had placed three billion rupees of 7-year debt in February 2011. The firm said in a stock exchange filing that two billion rupees of debt was placed with Saakya Capital (Pvt) Ltd and one billion with Satya Capital (Pvt) Ltd, […]
Sri Lanka Central Finance to raise sell unlisted debt
Apr 29, 2012 (LBO) – Sri Lanka’s Central Finance Company Plc, said it was planning to raise 700 million from a sale of unlisted debt. NDB Investment Bank will structure and place the deal. Central Finance plans to sell 700,000 unlisted, unsecured, redeemable debentures of 1,000 rupees each. .
Finance Stake
Apr 29, 2012 (LBO) – Sri Lanka’s state-run National Savings Bank has bought a 13 percent stake in The Finance Company, a troubled firm that is being bailed out by regulators, at a steep premium above market price. NSB has bought 7.863 million shares of The Finance at 49. 74 rupees in an off-market deal […]
Sri Lanka Cricket announces Pakistan tour dates
April 29, 2012 (LBO) – Pakistan are due to play three Tests, five one-days and two Twenty20 internationals when they tour Sri Lanka between May 29 and July 13, Sri Lanka Cricket said Sunday. Dave Whatmore’s men are due to play the first of two Twenty20s in the southern town of Hambantota on June 1. […]
Sri Lanka credit ceilings not proposed by IMF
Apr 28, 2012 (LBO) – Administrative controls imposed on Sri Lankan banks as part of a package of measures to combat a balance of payments crisis, were not among the preferred measures advocated by the International Monetary Fund, an official said. “Most economists would say a price mechanism is a good way of matching demand,” […]
Sri Lanka forex markets quiet
Apr 27, 2012 (LBO) – Sri Lanka’s rupee was tentatively quoted around 130.80/131.50 against the US dollar as markets opened Friday but with little firm quotes due to moral suasion from the monetary authority, dealers said. On Thursday the rupee closed around 131.50 to the US dollar with almost no trading earlier in the day. […]